Union Bank FD Calculator

The Stable Money Union Bank FD calculator is a free tool to help depositors plan their budgets and saving strategies to achieve financial goals with FD maturity amounts. You can compare the FD interest rate earnings using this calculator to maximise your returns. Stable Money-partnered banks provide FD interest of up to 9.50% for depositors to earn secured income. 

What Is the Union Bank FD Calculator?

The Union Bank of India fixed deposit calculator is a digital tool accessible to internet users free of cost. FD investors can use this tool to calculate the maturity amount and interest receivable on the principal to plan their financial goals.

Stable Money offers a fixed deposit calculator to help FD investors calculate the maturity value for Union Bank as well as other bank FDs. Using this calculator, you can compare the maturity value for different FD principals at different interest rates for variable tenures. 

Use the Stable Money calculator now to plan your finances now!

How Does a Union Bank FD Calculator Work?

The Union Bank fixed deposit calculator requires specific details to provide accurate results pertaining to FD maturity. Here are the details that affect the results of the Union Bank FD calculator:

1. Interest Rate: The interest rate varies based on the tenure and the principal amount. In addition, it varies based on the depositor’s age. A senior citizen FD investor usually earns a higher interest rate compared to non-senior citizens. As a result, incorporating the correct interest rate is essential for accurate results. 
2. Fixed Deposit Amount: The fixed deposit principal determines the maturity value which is the sum of the principal and the interest receivable. You need to enter the right FD principal to derive accurate results. 
3. Tenure: As the FD interest rate varies based on the tenure of booking, filling in the correct tenure you want to book your FD for is crucial. 
4. Compounding Frequency: Interest compounding frequency further determines the maturity value. As a result, you need to know and fill in the appropriate compounding frequency such as monthly, quarterly, half-yearly and others for error-free results. 

How to Use the Stable Money Calculator for Union Bank FD Calculation?

Here are the steps to use the Stable Money Calculator to estimate Union Bank FD maturity value:

Step 1: Fill in the total investment amount, the applicable rate of interest and the time period. Ensure you check the latest Union Bank FD interest rate for calculation. 

Step 2: Choose the compounding frequency from the drop-down menu as applicable. You can choose yearly, half-yearly or quarterly from the list.

Step 3: View the FD returns (interest receivable), total returns (maturity amount = principal + interest) and the total investment amount on the screen. 

Fill in the details now and check your returns on the Stable Money FD Returns Calculator!

Pros of Using the Union Bank FD Calculator

Here are the pros of using the Union Bank FD calculator on Stable Money:

1. Clear Understanding: Using this calculator helps you understand the values and estimate your interest earrings. 
2. Easy to Compare: You can use this calculator to compare the FD interest receivable for different tenures and amounts from various banks. 
3. Financial Goal Planning: Based on the results of the calculator, you can set your financial goals and understand additional needs to achieve your goals with strategic financial planning. 
4. Flexibility: You can use this calculator from any place whenever you want without visiting bank branches only during their working hours. 
5. No Added Cost: Users can derive results with this calculator free of cost even after multiple uses. 

Manual Calculation of FD Maturity Value

You can calculate the FD maturity value manually using the formula mentioned below:

A = P (1 + r / n ) ^ (n * t)

Where A: Maturity Amount; P: Principal; r: Interest Rate; n: Frequency of Compounding; t: Tenure in years.

Consider the example below that illustrates the above formula:

Mr XYZ deposits ₹1,00,000 in an FD for 2 years at the rate of 6.60% compounded quarterly. Then the maturity amount is as follows:

Maturity Amount = ₹1,00,000 (1 + 0.066 / 4) ^ (4 * 2) = ₹1,13,988 (approximately)

Interest Receivable by Mr XYZ = ₹1,13,988 - ₹1,00,000 = ₹13,988

Manual calculation, however, might be subject to human errors and can be time-consuming. To save your time and avoid calculation errors, use the Stable Money FD Returns calculator.

Why Should You Choose Stable Money for FD Booking?

Stable Money has multiple banks and NBFC partners offering fixed deposits at competitive rates. You can book an FD with Stable Money at an interest rate as high as 9.50% with the partnered banks. However, you do not have to open a savings account to book an FD with your chosen Stable Money-partnered banks. 

In addition, 24 * 7 customer support helps you with hassle-free FD booking from any place at any time. It eliminates the need to visit bank branches at designated hours amidst your busy schedule to book FDs. Senior citizens can seamlessly book an FD at a higher interest rate from the comfort of their homes. 

Download the Stable Money App now and book your FD with zero waiting time!